Richard J. Crouch

Richard’s business and commercial transactions practice includes commercial real estate acquisitions, dispositions, leasing, development, and finance.  He regularly works with real estate acquisition firms, developers, property management groups, commercial tenants and lenders in the structuring and closing of commercial transactions.

Richard received a B.S. in Business Administration (cum laude) from the University of Richmond, where he concentrated his studies in Economics and Finance.  He received his J.D. (cum laude) from T.C. Williams School of Law, University of Richmond, where he served as Senior Staff on the Technology Committee for the Richmond Journal of Law & Technology.  Richard earned the CALI Excellence for the Future Awards for Achievements in the study of both Antitrust and Intellectual Property Law.

Representative Matters

• Acted as purchaser’s counsel in connection with the acquisition of 2.51 acres in Myrtle Beach, South Carolina for a site development as a self-storage facility involving a purchase price of $825,000 and construction financing up to $4,436,406.00.
  Handled a $58.5 million portfolio acquisition, mortgage financing, and mezzanine financing of five (5) office buildings in Nashville, Tennessee with financing exceeding $49 million.
• Handled a $37.3 million portfolio acquisition, mortgage financing, and mezzanine financing of four (4) office buildings in Raleigh and Durham, North Carolina with 1031 exchange implications and financing exceeding $28 million.
• Handled refinance and credit facility loan with two (2) lenders and four (4) borrowers for financing exceeding $71 million, including an assignment of mortgage prior to refinance resulting in approximately$160,000 in immediate savings to the client due to reduced mortgage taxes.
• Handled a $25.5 million portfolio acquisition, mortgage financing, and mezzanine financing of industrial buildings in Reading, Pennsylvania with financing exceeding $19.5 million.
• Handled a $12 Million portfolio disposition of thirteen (13) shopping centers located in seven (7) cities in Hampton Roads, Virginia in a simultaneous closing involving five (5) seller entities, thirteen (13) purchaser entities and five (5) lenders.
• Handled over forty (40) land acquisitions in Virginia and Florida for Dollar Tree retail developments.
• Handled a $46.5 million portfolio acquisition, mortgage financing, and mezzanine financing of office buildings in Charlotte, North Carolina with financing exceeding $27 million.
• Handled $31 million in refinances for four (4) income-producing properties, including a strategic loan structuring that saved the client over $40,000 in mortgage taxes.
• Handled a $30 Million shopping center loan in Virginia Beach, VA, including an assignment of mortgage prior to the refinance resulting in approximately $70,000 in immediate savings to the client due to reduced mortgage taxes.
• Handled a portfolio acquisition for five (5) shopping centers involving ten (10) buyers in a simultaneous closing in South Carolina with 1031 exchange implications and financing exceeding $14 Million.
• Handled a $29 Million sale of membership interests of a property owner limited liability company, whereby the client saved $108,000 in grantor’s tax.
• Handled fifth (5th) acquisition in Virginia for a prominent Bojangles’ franchisee and developer.
• Handled a $23.2 million office building acquisition and mortgage financing in Jacksonville, Florida with financing exceeding $17.75 million.
• Handled a $8.5 million industrial building acquisition and mortgage financing in Virginia Beach, VA with financing exceeding $6.8 million.
• Handled a $4.6 million real estate acquisition in Chesapeake, VA for a site to be developed as a self-storage facility.
• Handled the acquisition of a portfolio, located in Nashville, Tennessee, consisting of five (5) office buildings involving a purchase price of $41,200,000.00 and the assumption of an existing loan in the original principal amount of $28,700,000.
• Handled over forty (40) land acquisitions in Virginia and Florida for a national discount variety store.
• Handled a loan modification, as borrower’s counsel, increasing the loan amount by $2.8 million, for a total loan of $6.3 million, for the development of the 2nd phase of a self-storage facility located in the Virginia Beach, Virginia.
• Handled a construction loan in the amount of $1.5 million, as lender’s counsel, for the construction of a multi-tenant housing facility located at Old Dominion University in Norfolk, Virginia.
• Handled a line of credit in the amount of $2,963,325, as lender’s counsel, for costs associated with a multifamily housing development located in Virginia Beach, Virginia.
• Handled a loan modification, as borrower’s counsel, increasing the loan amount to $4,345,163, for the completion of a self-storage facility located in Norfolk, Virginia.